...and every one.
In this video I discuss how things are radically changing within the automotive industry. This is going to be replicated throughout all industries.
That means the companies that are excelling in software are the ones to watch. This is where legacy companies are going to struggle.
▶️ 3Speak
I for one thought this should be a common knowledge. Software is still up there anytime any day
It seems to be prevalent in the Boomer generation. That was the generation resistant to change. They were alive before it become commonplace.
People are going to be surprised how quickly things change.
😂😂😂 you’re implying that the boomer generation were stubborn. I feel like they didn’t really want to ask for much.
And yeah people are going to be surprised on the change.
After watching the video I can actually say it's true.
You are absolutely correct..
Software companies are already dominating.
Example is Tesla as you mentioned
I think for now, software has a lot more potential for growth and usage in almost all industries because of AI. It should be fun to see how software and hardware will continue to push each other to newer heights in the coming years.
Summary:
The video discusses the increasing importance of software in various industries, with a focus on the automotive sector. The speaker highlights the significance of software in dominating industries, using Amazon as an example of a company that excels due to its software capabilities. The discussion particularly focuses on Tesla's innovative approach to integrating software into different aspects of their business, such as offering insurance through their app. The speaker emphasizes the advantages of companies creating their own software tailored to their needs, rather than relying on off-the-shelf products. The video concludes with the prediction that software will continue to dominate all industries, following the success of companies like Amazon.
Detailed Article:
The video starts with the speaker emphasizing the pivotal role of software in the automotive industry and across all sectors. Drawing parallels to Amazon's success, he underlines how companies adept at software will lead the way in dominating industries. The discussion delves into Tesla's strategy, with a spotlight on their software-centric approach that extends beyond just manufacturing vehicles. The example of Tesla offering insurance through their app showcases how software integration can create new revenue streams and enhance customer experience.
Furthermore, the speaker explains the advantage of companies, like Tesla, developing their proprietary software tailored to their specific requirements. This approach not only reduces costs associated with off-the-shelf solutions but also allows for greater flexibility and customization. The potential for cost savings per unit by developing in-house software is highlighted, illustrating how operational efficiency can be significantly improved.
The conversation touches on the evolving landscape of manufacturing processes, hinting at the integration of technologies like mixed reality, virtual reality, and supply chain software. The speaker poses a thought-provoking question about whether legacy companies like Ford and General Motors should consider creating their own software, akin to Tesla's in-house software development.
In conclusion, the speaker reiterates his belief that software will continue to play a dominant role in shaping the future of industries. Drawing parallels to Amazon's success in the digital realm, he emphasizes the importance of companies adapting to this paradigm shift. The reference to Amazon's acquisition of MGM and the speculated implications of this move showcase how digitalization and software capabilities are becoming increasingly intertwined with business strategies across different sectors.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.